Dr Patrick Ngugi Njoroge, the Central Bank of Kenya governor. PHOTO | FILE
The
Central Bank of Kenya (CBK) has so far received five suitors wanting to
buy the collapsed Chase Bank, the regulator’s governor Patrick Njoroge
said on Friday.
"We have received upwards of five
institutions, both local and foreign, wanting to buy the bank. We are
evaluating this interests," said Dr Njoroge during a press briefing.
The
CBK governor said the regulator considered reviving Chase Bank to be a
much easier undertaking than in the case of Imperial Bank, which
collapsed last October.
For Chase Bank, he said, assets
could be identified and sold while there was also willingness by the
shareholders and directors to move quickly and resolve the outstanding
matters including completion of registration of collateral documents for
the previously unsecured loans.
However in the case of Imperial Bank, there was outright fraud that needed to be dealt with.
Early last week, the Business Daily
carried a report showing that KCB Group, Centum Investments, I&M,
Equity and Commercial Bank of Africa were interested in purchasing the
bank.
Chase Bank collapsed last Thursday following a ran that drained Sh8 billion from the bank in one day.
It
later emerged that the bank had loaned Sh16.6 billion irregularly and
the external auditor expressed inability to establish the state of the
institution’s finances.
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